Sensex closes 1941.67 points lower, at 35,634.95

Banking stocks slide to 13-month low amid fallout from YES Bank crisis
Stock Market Down
Stock Market Down Export Import

Benchmark indices were trading over 6 per cent lower on Monday as investor sentiment remained subdued amid the rapid spread of novel coronavirus across the world and developments at YES Bank.

The S&P BSE Sensex was down over 1,941 points, or 6.4 per cent, at 35,144 levels. ONGC (down 15%), Reliance Industries (down 13%), IndusInd Bank (down over 8.5%), and Tata Steel (down over 7%) were the top laggards in the Sensex pack.

The broader Nifty50 index slipped below the 10,350 levels, down around 650 points, or 6 per cent. All the Nifty sectoral indices were in the red. Nifty Metal index, down 4 per cent, bled the most.

Highlights:

  • Sensex, Nifty set for the biggest single-day fall ever
  • Nippon MF moves court against RBI’s decision to write-down yes Bank’s AT1 Capital: CNBC TV18
  • Banking stocks slide to 13-month low amid fallout from YES Bank crisis
  • 10-yr Govt Bond Yield breaches 6%
  • Investors lost nearly Rs 10-trillion in last two trading days
  • Reliance Industries’ 13% fall today is its sharpest intra-day fall since June 2010
  • Sensex recorded its sharpest intra-day fall since November 9, 2016
  • Stock-markets in France and Germany plunge by over 7%
  • Spain’s IBEX 35 falls by 6.8%
  • UK’s FTSE 100 plunges by 8%
  • Norway’s stockmarket has fallen by over 12%

European stock futures slip 10% as oil tumbles

European futures tumbled 10% on Monday as the launch of a price war between Saudi Arabia and Russia sent oil prices crashing, adding to fears the world was sliding into recession on the back of the coronavirus epidemic. FTSE futures FFIc1 tumbled 9.1%, while German DAX futures FDXc1 were off 9%.

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